In case you are wondering which markets have better home appreciations, we have a list of eleven cities. If you happen to live in one of them, you can count yourself as lucky. Note however, that the appreciation rates are in a single a digit, which is a much better sustainable rate.
Please call me at 812-499-9234 in case you are interested in the appreciation rate for the Evansville area.
11 Markets With Highest Home Appreciations
Not all U.S. housing markets went south last year. First American CoreLogic Inc., in its latest study, identified the best-performing markets in the U.S. for 2008.
In many cases, the markets that made the list are areas that never enjoyed significant increases in value over the last decade -- but neither did they lose value over the last three years.
Nationwide, American CoreLogic, which predicts loan performance for banks, reported housing prices were down 11.1 percent last year. It predicts that home values will continue to decline through 2010.
In the fourth quarter of 2008, the report found that home price declines accelerated in some states where home values previously had been fairly stable, including Maine, Pennsylvania, Arkansas, Oregon and Rhode Island.
“The geographic breadth of price declines rapidly expanded in the second half of 2008, which means that housing wealth losses are broadening across much of the country," says Mark Fleming, Chief Economist for First American CoreLogic.
The 11 cities with the highest home price appreciation in 2008 are:
Source: First American CoreLogic Inc. (02/18/2009)
- Cedar Rapids, Iowa: 8.83 percent
- Binghamton, N.Y.: 7.78 percent
- Amsterdam, N.Y.: 7.89 percent
- Malone, N.Y.: 7.60 percent
- Bay City, Mich.: 6.87 percent
- College Station-Bryan: 6.78 percent
- Rocky Mount, N.C.: 6.69 percent
- Auburn, N.Y.: 6.51 percent
- Lebanon, Pa.: 6.41 percent
- Elmira, N.Y.: 6.28 percent
- Johnstown, Pa.: 6.20 percent